Stimulus Payments

 

 

 

woman at computer

The Internal Revenue Service and the Treasury Department have begun delivering a third round of Economic Impact Payments (Coronavirus Stimulus Payments) as part of the 2021 American Rescue Plan to millions of Americans.

The IRS will be issuing funds automatically to people who have bank account information on file with the agency. For detailed updates on the payment program visit: 
https://www.irs.gov/coronavirus/economic-impact-payments
 

Stimulus Payment FAQs

  • Do I qualify for the third economic impact stimulus payment?

    You may be eligible to get a third Economic Impact Payment. In most cases, the IRS will automatically send you a payment.  

    The Credit Union of Colorado cannot determine if you are eligible for payment. Please visit https://www.irs.gov/coronavirus/economic-impact-payment-information-center for specific eligibility information.
     

  • When will my payment arrive?

    According to irs.gov, the second economic impact payments will be distributed as early as March 13, 2021. We encourage members to check their accounts via Digital Banking to see if they have received their payment. Payments that show as “pending” will be available the next business day.

  • Will I receive notice of my payment?

    The Credit Union of Colorado will not contact you regarding the deposit of your stimulus payment. We encourage you to check your account via Digital Banking.

    According to the IRS, after payment has been issued, the IRS will mail letters with information about the payment. Recipients should visit irs.gov for instructions on how to report any failure in receiving payment.
     

  • How do I get my stimulus payment?

    If you are eligible for a stimulus check, you will receive it by either direct deposit or paper check. The IRS will be issuing funds automatically to people who have bank account information on file with the agency. 

  • What is the best way to see if my stimulus check has been deposited into my account?

    We encourage you to set up an Account Alert within Digital Banking to help you keep track of your account balances. Check out the short video below to see how.

  • How do I deposit a paper check if I receive one?

    For faster deposit, we encourage you to deposit your paper check via mobile check deposit within Digital Banking instead of driving to a branch drive-up or ATM.

    If you are not enrolled in Digital Banking, download the app on your mobile device.

  • What do I do if I received a prepaid debit card?

    Members may receive their stimulus payments via a prepaid debit card, or Economic Impact Payment (EIP) cards. The cards may go out to eligible taxpayers who filed tax returns but for whom the IRS doesn't have bank account information. Visit  https://www.eipcard.com/ for more details.